
Description of the share buyback programme Lagard re SCA 2013 - 2014 LAGARDERE SCA
A French limited partnership with shares with capital of 799,913,044.60
Head office: 4 rue de Presbourg - Paris 16th (75) - France
Commercial Register: 320 366 446 R.C.S. Paris
1 - Date of the shareholders general meeting having authorized the programme
May 3, 2013
2 - Allotment by objective of shares held by the Company as of May 3, 2012
Allocation to the employees (free share allocation, purchase option plans,
share exchanges with employees of the press division...)
3.113.678
(2.37 %)
Allocation for retention in view of future transfer or exchange
92.268
(0.07 %)
Allocation ensuring proper liquidity of the stock market
45.000
(0.03 %)
________
_______
3.250.946
(2.47 %)
3 - Characteristics of the 2013 - 2014 program
Objectives pursued:
Allocation of free shares to employees of the Company and its related companies;
Allocation of shares to holders of stock options plans;
Allocation of shares to employees as part of the profit-sharing scheme;
Any other allocation of shares to employees of the Company and its related companies in compliance with applicable laws and regulations;
Regulation of the stock market, trough liquidity contracts signed with an independent investment services provider, in compliance with a code of professional Conduct recognised by the French Financial Markets Authority (AMF);
Retention in view of future transfers or exchanges in consideration for acquisitions (up to 5 % of the share capital for exchanges made within the framework of an operation of merger and acquisition);
Reduction of the share capital by cancelling all or a portion of the shares purchased;
To transfer or exchange shares in response to the exercise of the rights attached to securities that grant ; in any manner whatsoever, a right to the allocation of shares in the Company;
And, more generally, to effect transactions in accordance with current regulations and in particular with the market practices accepted by the French Financial Markets Authority (AMF).
Maximum percentage of the share capital and maximum number of shares which can be purchased:
10 % of the share capital (13,113,328 shares).
Considering the 3,250,946 shares and the 2,574,552 call options held by the Company as at 3 May 2013 and in the event that these shares and call options would not be transferred or cancelled during the programme, a maximum of 7,287,830 shares can be purchased (5.56 % of the share capital).
Maximum unit purchase price: 40
Maximum amount of purchase: 500 million Euros
4 - Term of the share buyback programme
18 months as of the general meeting, i.e. until November 3, 2014
5 - Summary of the transactions made within the framework of the previous programme and situation as of May 3, 2013
Summary of the transactions Number of shares cancelled over the last 24 months: 870,002 (0.66%)
cumulated gross flows
May 10, 2011/ May 3, 2012
Purchases Sales /
Transfers
Number of securities 2,066,426 (1) 2,513,476 (1)
Average price of transactions in euros 22.452 23.401
Amounts in euros 46,397,389 58,818,805
(1) shares
Situation as of May 3, 2013 Percentage of share capital held by the Company: 2.47 %
Number of securities held by the Company directly and indirectly in portfolio: 3,250,946
Portfolios net book value: 91,461,495.54
Portfolios market value: 90,636,374.48 (on the basis of 27,88 per share)
Open positions in derivatives: May 3, 2012
Open positions on purchase Open positions on sale
Call options purchased (1) Forward purchases Call options sold Forward sales
Number of securities 2,574,552 None None None
Average maximal maturity date 3,06,2014 (2) - - -
Average exercise price 51.68 (3) - - -
(1) calls
(2) Spreading between the 18.12.2013 and the 20.11.2014
(3) Spreading between 51.45 and 51.92
The present publication is available on the website of the Company (www.lagardere.com) in the section regulated information and at the Head Office of the Company.
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